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Income Statement Template Income Statement Template Excel/ Excel Income Statement Template

It calculates the Operating Income and then adjusts for interest expense and income tax to give the Income from Continuing Operations. It first calculates the Gross Profit by subtracting the Cost of Goods Sold from Net Sales. (2) The “multi-step” income statement example breaks out the Gross Profit and Operating Income as separate lines. (1) The simplified “single-step” income statement groups all of the revenues and expenses, except the income tax expense. The two examples provided in the template are meant mainly for small service-oriented businesses or retail companies. There are many ways to format an income statement. The income statement is typically used in combination with a balance sheet statement.

The statement summarizes a company’s revenues and business expenses to provide the big picture of the financial performance of a company over time. Income Statement Template: An income statement or profit and loss statement is an essential financial statement where the key-value reported is known as Net Income.